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Port Authority Notes Draw No Bids

By

Stan Rosenberg

Updated Dec. 3, 2008 3:06 p.m. ET

NEW YORK -- The Port Authority of New York and New Jersey, one of the best known names in the municipal bond market, received no bids Wednesday for $300 million of short-term notes it put out for competitive sale.

The bistate agency, which manages bridges, tunnels, airports and transit in New York City and northern New Jersey, said the lack of bids will have "no impact" on current Port Authority capital projects since the...